How to avoid owing more on your financed vehicle than it is worth....the "negative equity nightmare"

How to avoid owing more on your financed vehicle than it is worth....the "negative equity nightmare" My Car Guru Podcast · Jul 8, 2026

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Term

negative equity nightmare

Negative equity means you still owe money on your car loan, but the car isn’t worth enough to cover what you owe. If you trade it in or sell it, you may have to pay the extra difference out of pocket or add it to a new loan.

Term

84 months

“84 months” is a 7-year car loan. It can make the monthly payment smaller, but it also means the loan lasts longer—so the car can lose value before you’ve paid it off.

Car

Ford Expedition

The Ford Expedition is a large SUV meant for families and bigger trips. It often comes up when people talk about lowering their monthly payment by changing the deal on a newer or different vehicle. The main idea is that the payment can change even if the car type stays similar.

Concept

upside down

“Upside down” means your loan is bigger than what the car would sell for. So if you trade it in, you still owe money after the sale.

Concept

depreciate 15 grand

Depreciation means the car loses value as time goes on. The host is saying the car can drop by about $15,000 in two years, which can leave you owing more than it’s worth.

Term

72 months

“72 months” means a 6-year loan. The point is that many people are taking loans longer than that, which can make it easier to end up owing more than the car is worth.

Company

Experian Automotive

Experian Automotive is a data company that tracks credit and car-loan trends. The host uses its numbers to show that long car loans are becoming more common.

Term

invoice

Invoice is the dealer’s cost for the car (roughly). If a lender is willing to finance 130% of that, it means you’re borrowing way more than the car is really worth.

Term

down payment

A down payment is the upfront cash you pay when financing a vehicle. A larger down payment reduces the amount you borrow, which lowers the chance you’ll end up in negative equity if the car depreciates.

Term

60 months

This is how long your car loan lasts—60 months is 5 years. Longer loans can keep payments lower, but you may still owe a lot before the car’s value catches up.

Term

48 months

This means the loan is paid off in about 4 years. Paying off sooner can help you avoid getting stuck owing more than the car is worth.

Car

Cadillac Escalade

The Cadillac Escalade is a big luxury SUV. The host mentions it as an example of a vehicle people may want for image, but financing it aggressively can lead to owing more than it’s worth.

Car

Lincoln Navigator

The Lincoln Navigator is a large luxury SUV. The host brings it up as an example of a car people want for reasons like looks or image, which can be risky if you finance too much.

Car

Chevrolet Suburban

The Chevrolet Suburban is a large SUV with lots of room. The host suggests it as a cheaper way to get the same kind of big-SUV lifestyle without taking on a loan that could go underwater.

Car

Chevrolet Tahoe

The Chevrolet Tahoe is a big SUV, but it’s usually cheaper than some luxury competitors. The host’s point is that choosing a less expensive SUV can reduce the chance you end up owing more than it’s worth.

Concept

lease

A lease is a financing arrangement where you pay for using the vehicle for a set term, rather than buying it outright. The host suggests leasing as an alternative to buying when you trade frequently, because it can help you avoid carrying negative equity from one purchase to the next.

Person

Dave Ramsey

Dave Ramsey is a personal-finance personality known for strong opinions about debt and consumer financing. In this segment, he’s referenced as an example of someone who argues against leasing.

Term

tread depth

Tread depth is how much grip is left on the tires. Leases usually require tires to have enough tread when you return the car, or you may be charged to replace them.

Term

money factor

Money factor is the financing cost built into a lease payment. It’s like the lease’s “interest rate,” and a lower money factor usually means a cheaper lease.

Term

residual

The residual is what the lease company expects the car to be worth at the end of the lease. If you want to buy it then, that residual value is the starting point for the purchase price.

Term

mileage

In a lease, mileage is how many miles you’re allowed to drive. If you go over the limit, it can cost you because the car is worth less when you turn it back in.

Term

depreciation

Depreciation is how much the car’s value drops as time goes on. In a lease, your payment is based mostly on that expected value drop by the time you return the car.

Term

interest factor

The interest factor is the extra cost for borrowing money as part of the lease. Even though the car’s value drop matters most, the lease payment also includes borrowing costs.

Term

resell value

Resell value is what you can realistically sell the car for later. If that number stays high, the car doesn’t lose value as fast—so you’re less likely to owe more than the car is worth.

Car

Dodge Charger

A Dodge Charger is a popular American car. The host mentions it because some cars like this can lose value faster than you’d expect, which can make it harder to avoid owing more than the car is worth.

Term

manufacturer incentives

Manufacturer incentives are deals the car company offers to lower the cost. The host is saying that sometimes the automaker helps out financially, which can make a car’s lease or price look better than you’d expect from resale value alone.

Car

Nissan Aria

The Nissan Ariya is an electric SUV that uses a battery instead of a gas engine. The podcast mentions it because they looked at leasing one and worked out the monthly lease cost. That’s a common way people compare EVs before buying or committing.

Term

sales tax

Sales tax is the tax added to the cost of the car. The host is saying that with some leases, you may pay sales tax on each monthly payment instead of on the whole car price at the start, which can lower the monthly amount.

Term

capitalized cost

Capitalized cost is the price number the lease math is built on. If you compare lease and purchase offers, you want that underlying price to match—otherwise the monthly payment comparison can be misleading.

Term

gross on the front end

“Front-end gross” is the dealer’s profit they make in the pricing part of the deal. The dealer may try to earn more up front and make up the rest elsewhere in the transaction.

Term

back end

The “back end” is the part of the deal where the dealer’s money-making tends to happen after the car price is discussed. It often involves the financing setup and extra products added in the finance office.

Company

National Auto Dealers Association

NADA is a U.S. organization that represents car dealerships. In the episode, the host mentions getting a daily newsletter from them.

Company

NADA

NADA is short for the National Auto Dealers Association. It’s the group behind the daily newsletter the host is reading.

Company

Scout Motors

Scout Motors is mentioned in a news story about a lawsuit. The dispute is about whether a company can sell cars directly to customers instead of through traditional dealerships.

Term

dealer association

A dealer association is a group that represents car dealerships in a state. It can advocate for dealerships and sometimes even help with lawsuits or legal fights.

Brand

Volkswagen

Volkswagen is a major car company. In this story, they’re described as owning the Scout name and bringing it back.

Company

International

International Harvester was a big old company that made trucks and equipment. The host is saying the original Scout brand started with them.

Car

Ford Bronco

The Ford Bronco is a popular off-road SUV. The host is saying it showed that people still want this kind of SUV, which helped inspire the Scout comeback.

Car

4Runner Forerunner

The 4Runner is a midsize SUV built to handle rough roads and off-road driving better than a typical family car. It can be mentioned when people talk about entering the market for more rugged SUVs. The main point is that it’s designed for capability, not just commuting.

Term

EV

EV means electric vehicle. It runs on electricity from a battery instead of a gas engine, and the host is questioning whether that approach will sell.

Place

South Carolina

South Carolina is a U.S. state. The host is saying the Scout is planned to be built there, which affects how the company will produce it.

Term

internal combustion engine

An internal combustion engine is the traditional engine that burns gasoline or diesel to make power. The host is saying that combining that with EV parts can make the car more expensive to build.

Term

electric motors

Electric motors are the parts that use electricity to turn the car’s wheels. The host is pointing out that adding these components (plus a big battery) can raise the vehicle’s build cost.

Place

Washington state

Washington state is referenced as the location where auto dealers are unhappy with the proposed direct-to-consumer sales approach. The point is that local dealer networks can be affected by how vehicle distribution is regulated and structured.

Brand

Tesla

Tesla is an electric-car brand. The host is comparing a different EV brand’s sales model to Tesla’s, especially how it can limit discounts when the factory controls pricing.

Term

MSRP

MSRP is the price number the manufacturer puts on the car. The host is saying you may have to pay that full sticker price instead of getting a deal.

Car

Honda Civic

The Honda Civic is a small, everyday car that many people drive to work and school. It can be mentioned because Honda supports community activities and events connected to the Civic. The key point is that it’s a very common model with a lot of visibility.

Term

service departments

A “service department” is the dealership’s repair and maintenance area. They may suggest extra work, so it helps to ask what’s necessary versus optional.

Term

flushes

A “flush” is when a shop replaces fluid in a system. Some flushes are helpful, but others are unnecessary—so you should confirm the car’s recommended service interval before paying for it.

Term

labor rates

“Labor rates” are what the shop charges for the mechanic’s time. If the job takes several hours, that hourly cost can add up quickly.

Concept

loaner car

A “loaner car” is a temporary car you get while your vehicle is in the shop. It helps with getting around, but you still want to make sure the repairs are legit and fairly priced.

Car

Fiat Topolino

The Fiat Topolino is a tiny, city-friendly Fiat car. In this episode, the host brings it up as an example while discussing what happens when you need service or a replacement vehicle.

Company

Stellantis

Stellantis is the big company that owns several car brands. The host is saying Fiat is part of Stellantis, along with other brands like Jeep and Dodge.

Car

Dodge Ram

Ram is a brand that makes pickup trucks, and it belongs to the same parent company as several other truck and car brands. The podcast may mention this to explain who owns the brands. It helps clarify that these vehicles can be managed under one larger company.

Place

the Netherlands

The Netherlands is where the host says Stellantis is headquartered. It’s just background on where the company is based.

Term

destination charges

Destination charges are extra fees to get the car from the factory to the dealer. They raise the total price you finance, which can make it easier to end up owing more than the car is worth later.

Term

charging

Charging is how you refill an EV’s battery. The host’s point is that it takes time and you may have to wait for a charger, which can be inconvenient on longer drives.

Place

Myrtle Beach

Myrtle Beach is the example trip location. The host is saying that for EVs, you have to plan where you’ll charge before you go.

Term

gasoline, diesel

Gasoline and diesel are the fuels used by most non-electric cars. The host is saying hybrids can be a good middle ground if fuel is easy to find for a long time.

Term

EV incentives

“EV incentives” are money-saving programs that help you pay less for an electric car. They’re usually offered by the government to encourage more people to buy EVs.

Concept

power company

A “power company” is the utility that supplies electricity to your home. The point here is that if they change prices or service, EV charging can be affected because you still need electricity.

Concept

brownout

A “brownout” is when the electricity in your area gets weaker than normal. If you’re trying to charge an EV, that weaker power can make charging fail or pause.

Concept

blackout

A “blackout” means the power goes out completely. If you’re charging an electric car, it won’t charge until the electricity comes back.

Term

free market of gasoline

This phrase means gas prices are determined by the market—things like supply and demand—rather than being fixed by the government. So prices can rise or fall depending on conditions.

Car

Topolino

The Topolino is a very small electric car designed mainly for short trips. The host points out it only goes about 19 mph at top speed and has around 46 miles of range, so it probably won’t work well for everyday driving like a normal car would.

LIVE

Hey folks, Lenny Lawson, the car guru and your host for another 23 minutes of automotive

stuff that you didn't know that you needed to know, but it might be helpful to know

that maybe you shouldn't finance a car for 84 months.

Just ask my daughter.

Yep, Abby needed to have a lower monthly payment on her new expedition than what she

had on her old expedition.

And you normally keep some a couple years, maybe two and a half years and then trades.

She financed the last one for 60 months and when she traded it, she was about break even

as far as the value versus the payoff.

Well, here it is two years later since she got her last one and she financed it for 84

months.

And she's about $15,000 upside down, just 15,000 more on it than it's worth.

And yeah, they'll depreciate 15 grand in two years, they'll do it.

And this hasn't just happened to the car guru's daughter.

She works here at Gateway Ford and Gateway Nissan.

She should know better.

The car loans have been getting longer and the reason is because prices and interest

rates are still high.

More buyers are signing up for seven year loans, that's 84 months, even longer just to try

to keep their monthly payments from going off the rails.

Experian Automotive says nearly 36% of new car loans and almost a third of used car loans

now run longer than 72 months.

The 73 to 84 month bracket is growing the fastest.

And even loans longer than that, there are some lenders that are doing 96 month loans

now for a car.

And just to help swallow some of that negative equity, they're willing to stretch to 130%

of the invoice or in some cases the MSRP on the new vehicle that you're buying.

In other words, they'll loan you 130% of the value of that vehicle, 30% more than MSRP.

And then you add sales tax and all that, I mean it's just a nightmare.

It is a nightmare waiting to happen.

What can you do to avoid that?

Well, the number one thing to do is to wait until you have enough money to make at least

a 15 to 20% down payment on a new vehicle.

If you're buying a new vehicle so that you can finance it for no longer than 60 months

if you can, 48 months is even better.

And if you have 20% down, you can probably swing that as far as a monthly payment is

concerned.

And then just don't buy more vehicle than you need.

You know, you may be one of those people, oh, I've got to have an Escalade or I've got

to have a Lincoln Navigator or it's got to be black too.

I want to look like a secret service agent.

Maybe you should buy a Tahoe, a Chevy Tahoe or a Suburban.

You know, it's $30,000 less money, does exactly the same thing except maybe one thing.

It doesn't feed your ego quite as much.

Or how about a one or two year old version of that same vehicle?

If you want an Escalade, buy one that somebody else has already had repowed.

Or, if I traded every, oh, three years, four years at the most, I would consider a lease.

And I know Dave Ramsey and a lot of the financial gurus out there said, don't lease a car, it's

just like rent and one.

Well, you know, if you buy a car and make monthly payments on it for three years and

then trade it, it's very possible you're going to be upside down.

And there's going to be negative equity that you're going to either have to pay off with

cash or you're going to have to carry it over to your new loan.

But if you lease the vehicle and you have maybe even a lower monthly payment than you

would have if you bought it and, you know, you get to the end of that lease, you don't

know anybody anything.

You just handed the keys and walk away as long as you didn't go over on miles and that

the car isn't completely beat up.

You know, if you took care of it like you should have.

Now, if, you know, the tires worn out, well, I mean, if you owned a car, then you would

have had to replace the tires anyway.

So, you know, when you turn in a lease car, they expect the vehicle to have acceptable

tread depth on the tires.

And if it doesn't, they'll charge you for a new set of tires.

But I'm just, I'm one of those people that if I go out and I'm looking at a new vehicle

and I'm going to look at it both ways, I'm not going to, you know, give the salesperson

a hard time if, if he says, would you like to see what it would cost to lease it?

Heck no, I'm not leasing a car.

You know, a lot of people have that mentality, but yeah, go ahead and show me the lease payment.

What are the terms?

You know, what's the money factor?

What's the residual on this vehicle at the end of the lease term?

What can I buy it for if I wanted to buy it?

You know, all those numbers are worth looking at.

And I'm not going to discount the option of a lease until, well, because I have some preconceived

notion about how they work.

You know, if you've never leased a car and you've never read a lease contract, then you

don't know.

So, you know, if you're, if you're thinking about buying an Escalade or even a Hyundai

iconic or whatever it's called, get them to quote you a lease, especially if you like

to trade cars and your typical pattern is to trade cars every three years.

Why own it?

Why put your credit on the line for 84 months when you can lease it for 36 because you trade

every 36 months anyway and there's no danger of being upside down unless you go over on

mileage.

Like I said, what do you mean by that?

Well, most leases or the payments that you're quoted are based on the amount of miles that

you're going to put on the car because that affects the value of the car when you turn

it in.

And most leases that I see advertised are very low mileage leases, 10,000 miles.

So does that mean on a three year lease you can only drive 10,000 miles?

No.

No, it means you can drive 30,000 miles on a three year lease and that wouldn't work

for me.

I'd need at least 15,000 miles a year built into the lease.

It's going to make my payment go up a little bit, but it should because I'm using more

of the car because what you're paying for on a lease is the depreciation of the vehicle

plus the cost of money during that timeframe that you have that car.

There is an interest factor built into the lease payment, but most of it is based on

depreciation.

Now, if you're looking at a vehicle that has really good resell value, then that factor

or that portion of the monthly payment is not going to be very much.

I mean, if you're looking at something that really goes down in value quickly, like a

Dodge Charger, for example, then the depreciation factor is going to be fairly enormous.

And unless it's being subsidized by the manufacturer because sometimes they do that.

I mean, we had a Nissan Aria and we calculated a lease on it.

It was an EV and they were having a hard time selling them and the lease payment was going

to be, I mean, this is like a $50,000 vehicle.

The lease payment was going to be $199 a month on a 10,000 mile lease.

Heck, I would even lease one for that.

It was the, and that was plus tax because on a lease, you don't pay sales tax on the

full purchase price of the car, the whole value of the car.

That's another big advantage.

You only pay sales tax on each monthly payment and that's a big savings.

If you finance a car, you're probably financing the sales tax on that car

and paying interest on it.

It raises that monthly payment.

But on a lease, like I say, you only pay sales tax on each monthly payment.

So it's worth looking at folks.

If you go out car shopping, just have them print the numbers for you.

Show me what a lease would be on this.

But here's what you have to remember to say.

Base the lease payment on the same capitalized cost as what you're selling me

the car for on the purchase.

Use that term, capitalized cost.

They're going to say, how'd you know that term?

I listened to my car guru and he said for me to ask about that.

Okay.

And so they'll get you that number and then you know that you're comparing apples

with apples because sometimes what they'll do is, oh boss, they want a lease.

Okay, we're going to jack this up.

We were selling it to them for $32,000.

Now we're going to base the lease.

The capitalized cost will be $35,000 and we'll make up some extra gross on the front end

because we're giving it up on the back end.

That's how they think.

What's the back end?

That's what they make in the finance office.

The front end is what they make on the car.

See, look at all this new terminology you're learning.

Okay, I'll be back in just one minute.

Okay, I am back.

I want to check and see what else is in the news here.

I get this newsletter emailed to me every day from the National Auto Dealers Association,

commonly known as NADA.

Isn't that creative?

It's called NADA Headlines and then it lists the top stories for the day.

Well, the top story that I saw on, let's see, when was this?

Oh yeah, this was yesterday morning.

Washington State Auto Dealers Association sues to block scout motors direct sales.

So this is a dealer association just like we have one in the state of Tennessee.

It's called the Tennessee Automobile Dealers Association.

TAA is the acronym.

And so the Washington State version of a dealer association is suing Volkswagen,

basically, because Volkswagen is, well, owns the scout name.

Remember the scout?

You're probably too young to remember it, but maybe you're old like me.

It was made by a company called International.

And they were bought out by another large trucking company.

I think it was Volvo or maybe not them.

But anyway, they were bought out by a large truck manufacturer

and they stopped making the scout.

Well, Volkswagen bought that trucking manufacturer and therefore owned the name scout.

Well, they just sat on it for a lot of years and then they saw the success of the Ford Bronco

and how jeeps were still selling and I guess the Toyota FGA or the forerunner.

And they said, hey, let's get into this game in America.

And so they resurrected the scout name and they decided in all of their brilliance,

to make it an EV.

Now, I do agree with the brilliance when it came to where they were going to build it

in South Carolina.

They've already got a factory built and they're just all over Facebook showing all these

advertisements for these scouts and people go in and say, oh, I can't wait to get mine.

And they can't even figure out how they're going to handle the motor.

Because the EV is, you know, if it's just an EV, it's not going to work.

It's not going to sell.

One reason is cost.

It's going to be expensive.

They're doing everything they can to push down on cost, but it's going to be expensive.

When you have to put a big battery, electric motors and an internal combustion engine on

something, you better have it down pat as far as your manufacturing and the other cost

involved because it's going to be expensive.

And the people who would be interested in buying it, they don't have the funds to do it.

Probably going to have to involve a lot of leasing.

But the reason I bring this up is because Washington state auto dealers aren't happy,

just like most dealers across this country, because

scout wants to sell these things like Tesla sells Tesla's directly to the public.

And you may say, well, that's great.

You cut the dealer out of the middle.

Well, is it, you know, because if you own a Tesla and you're 200 miles away from a Tesla dealer,

then that's kind of a problem when it comes to having issues with the vehicle.

Same thing for the scout.

There's all kinds of Volkswagen dealers all over the country that could be selling this scout.

But no, they want to cut the dealers out because they can,

I guess they think they can retain more profit.

And guess what else, folks?

This is the bad part for the consumer.

When the factory controls the distribution of the vehicle, there is no discounting.

There are no deals.

Everything is at MSRP, just like with Tesla.

You don't get discounts.

There's nobody to negotiate with.

You know, when you go to a new car dealership, if you pay attention to this program and follow

the four targets of negotiation, which are very simple, very straightforward,

you can get a really good deal.

You can get a pretty major discount on the vehicle off of MSRP, not on the new scout.

No, you have to pay retail price.

So dealers are not liking this.

We don't like being bypassed.

You know, we've got a lot of money invested.

You know, there's Ford dealers in every, well, not every town, but just about any town

over 15,000 population has a Ford dealer sitting there who has invested

millions of dollars in facilities and training and equipment.

They employ a lot of people.

They sponsor a lot of civic activities in the communities.

They, you know, ball teams and humane society.

And I mean, they, they live there and they contribute.

They're good citizens.

They pay taxes.

They pay property taxes.

You know, how many property, how much in property tax will scout pay in Kingsport?

None, but there's a Ford dealer and a Chevrolet Nissan dealer.

They're, they've all got facilities.

They employ hundreds and hundreds of folks and they pay property taxes and, you know,

they collect sales tax and remit it to the state, which that money comes back to the

community, not all of it, but a lot of it does.

There's a big advantage to every single community that has a new car dealer there,

just simply because they're there.

And people aren't just going online, specking out a vehicle and having it delivered to their house.

You can't tell me that that's better.

Well, a lot of dealers are crooks.

Well, that's true.

There's a lot of bad apples out there.

But if you pay attention and you don't get carried away with yourself, you can spot them

and you can handle yourself if you follow the four targets when it comes to buying a car.

When it comes to service, you know, most service departments, they're pretty straightforward

folks. Yeah, occasionally they'll try to sell you a bunch of stuff that you may or may not need,

like all these flushes and they flush this and flush that.

And, you know, a lot of that's unnecessary.

And you may say, well, the labor rates are really high.

Yeah, they are, they're high.

They're not any higher than a plumber or an electrician.

But, you know, these cars are very sophisticated, very expensive to work on.

They're complicated.

And so you, you want good people that are close to you to be able to work on them.

You don't want to have to wait for some rollback to come pick up your vehicle,

drop off a loaner car, take it, take it someplace and fix it.

It's gone for three weeks.

You know, a lot of people say, well, you know, as long as you give them a loaner car, they're fine.

Really? Don't you hate to be in somebody else's car?

I want to be in my car.

I want to be able to take it to the dealership, get it fixed,

and then pick it up and keep driving it.

I don't want to have to wait for somebody to come get it and then be in a loaner car.

I mean, loaner cars are convenient, but when I open my console,

I want to make sure that I've got plenty of sweet and low in there for my pal's tea.

And if I need my 357 Magnum, I can pull it out.

I'm just kidding.

Or am I?

I'll be back in just one minute.

Have you ever watched the cars movies?

I just love those movies.

They are just so heartwarming.

Plus they involve cars.

You remember a little Fiat Topolino?

I think it was one of those little vehicles that worked in the tire store.

And they spoke Italian.

Fiat, of course, is Italian.

Stellantis, you ever heard of them?

Stellantis, Fiat is actually a part of that corporation,

as is the Chrysler Corporation, Dodge, Ram, Jeep.

They're all under the Stellantis umbrella, headquartered in the Netherlands.

So anyway, Fiat is coming out with the new 2026 Fiat Topolino,

which will be available at your local Fiat store.

Tell me where one of those are.

They're kind of scarce.

There's not a bunch of them out there, but you might want to know where one is.

Because a Topolino, this is a passenger car,

base price is going to be $13,995, plus destination charges, which will be $990.

So the total starting price will be $14,985.

We do need cars that are in that price range.

We don't need them to be electric.

That's what this is.

You know, I don't care how cheap electric vehicles are.

They still have the same issue.

You have to charge them.

And you can't drive to Myrtle Beach without finding a place to charge your EV.

And what if there's like 15 other cars sitting there waiting to charge their EV?

Yeah, it may only take 30 minutes to fully charge yours.

But all those other people waiting ahead of you have 30 to 45 days.

Some cases an hour to recharge their vehicle.

I still like going to a gas pump and filling it up in five minutes.

It's so much easier.

But they say, I don't know who they is, but they say that EV is the future.

And maybe it is.

I think that hybrids are a great alternative as long as there's plenty of fuel

as far as gasoline, diesel.

Looks like there's going to be for many hundreds of years.

But what's going to make or break this situation is going to be who wins the next election.

Because if the Democrats do win and take over the White House,

there's going to be a lot of stuff rolled back.

You will probably see the EV incentives come back, whether or not we can afford it.

That doesn't matter.

When has that stopped anybody?

You know, Republicans or Democrats, it's just an open checkbook.

They just have different priorities.

And if the Democratic Party had their way,

there wouldn't be any gas engine vehicles or diesels.

Everything would be electric.

And we would all be held hostage to the power company.

And you know, I've never felt really comfortable about that concept because

most power companies are quasi-government agencies.

And when they want to raise electric rates,

there's nothing you can do about it because you still need electricity, right?

In your house.

And if they have a brownout or a blackout,

you have to turn the power off for some reason.

You can't charge your electric vehicle.

You can't go anywhere.

And if the government decides, hey, well,

we're willing to provide you with enough electricity to power your house,

but we will not charge your car.

We just don't feel like that's needed.

You just need to stay at home.

So, you know, the government can do that.

Can't they?

We've seen some crazy stuff.

I don't want to give them that much power.

I want to rely on the free market of gasoline.

And of course, there's nothing free about that,

but it is not controlled by the federal government.

Well, I guess I should say this, the Topolino.

It's probably not going to be a replacement for a regular passenger car.

Top speed is 19 miles an hour.

And it has a range of 46 miles.

It sounds like a golf cart, doesn't it?

So maybe it's not such a great deal after all,

but I did want to tell you about it.

Well, thanks for listening to this edition of My Car Guru.

If you have any questions, text them to me, 423-552-2020.

And if you want to learn about the four targets before you go car shopping,

and you should, just send me your email address,

again, 423-552-2020.

Well, thanks for listening to this edition of My Car Guru

and I guess I'll see you next time.

0:00

23:05

Fiat Topolino

the Netherlands

gasoline, diesel

Topolino

About this episode

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